Latest on the Bankruptcy Blog

Most people know that bankruptcy does become part of public record, which is why many fear that their friends and family will find out about the bankruptcy. The truth is, no one is likely to find out about your bankruptcy unless you tell them. How Can I Be Sure? It is true that bankruptcy filings  … Read more

The Emergency Homeowners’ Program—a $1 billion federal program designed to assist the unemployed—is due to expire on Friday, having assisted only a fraction of those who applied. In fact, of the 100,000 applicants, only 10,000 to 15,000 are expected to receive aid. The program aimed to offer interest-free, forgivable loans to those homeowners who lost  … Read more

For many struggling homeowners, foreclosure can seem like the worst possible scenario. To owe so much money that the bank reclaims your home is a terrifying notion to consider, yet, this is not always the end of the ordeal. Unbeknownst to most homeowners facing foreclosure, it is possible to still owe large sums of money,  … Read more

Anyone experiencing overwhelming debt understands the stress and pressure it can add to an already tough situation. Finding the right debt relief  option for you can be a challenge in itself, and knowing which one to pick isn’t always easy. In general, there are two choices in debt relief: (1) slow and steady or (2)  … Read more

For those considering refinancing their mortgage, rates have never been better. As many experts anticipate that rates will not stay at this level, it is important for interested homeowners to enter the process as soon as possible. However, for many there will be a major speed bump in the process: the appraisal. The appraisal process  … Read more

The economy continues to challenge our debt loads daily and for those who own property, the challenges become all too real when a notice of foreclosure arrives in the mail. A family experiencing foreclosure is bad enough, but those who rent property from landlords face even greater challenges. Tenant Rights Until recently, renters who occupied  … Read more

A legitimate fear behind filing for bankruptcy is the damage done to your credit. However, what most people don’t know is that the bulk of the damage done to your credit happens long before you even decide to file for bankruptcy. The worst thing you can do to your credit is fail to pay your  … Read more

When it comes to the decision to file for bankruptcy, you may think there isn’t much difference between Chapter 7 and Chapter 13. In fact, your financial situation is as unique as the risks and benefits associated with filing one case over the other. Before deciding on which type of bankruptcy to file, consider the  … Read more

A short sale can sometimes be the best means of avoiding foreclosure when a homeowner is feeling swamped by mortgage debt. However, many homeowners are struggling at present—especially in states such as Nevada, Arizona, and California, which have particularly high default rates—but not everyone will qualify for a short sale. Short sale applicants must prove  … Read more

This week, the California Attorney General, Kamala D. Harris, withdrew from settlement negotiations with major banks over alleged foreclosure abuses. Harris removed herself, claiming that the deal was unfair to injured California homeowners. This move significantly damages efforts by the Obama Administration to seal a $25 billion settlement with a number of major U.S. banks  … Read more